Short Interest in Onsemi (NASDAQ:ON) Rises By 16.9%

Onsemi (NASDAQ:ON) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 31,320,000 shares, an increase of 16.9% from the February 13th total of 26,790,000 shares. Approximately 7.5% of the company’s stock are short sold. Based on an average trading volume of 8,890,000 shares, the short-interest ratio is currently 3.5 days.

Onsemi Stock Performance

Shares of ON stock opened at $43.20 on Friday. The firm’s 50 day moving average is $50.20 and its 200 day moving average is $62.38. The stock has a market capitalization of $18.21 billion, a P/E ratio of 11.90, a PEG ratio of 16.74 and a beta of 1.59. Onsemi has a 12 month low of $41.59 and a 12 month high of $80.08. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. On average, sell-side analysts anticipate that Onsemi will post 2.6 earnings per share for the current year.

Institutional Trading of Onsemi

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after purchasing an additional 344,354 shares in the last quarter. Janus Henderson Group PLC increased its stake in Onsemi by 9.2% in the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock worth $780,387,000 after acquiring an additional 1,041,989 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after acquiring an additional 309,445 shares in the last quarter. Norges Bank bought a new stake in shares of Onsemi during the 4th quarter valued at about $378,312,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Onsemi by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock worth $316,195,000 after purchasing an additional 771,610 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ON shares. Truist Financial cut their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research note on Tuesday, February 11th. JPMorgan Chase & Co. dropped their target price on Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus decreased their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Craig Hallum lowered their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $49.00 price target on shares of Onsemi in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.85.

About Onsemi

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.